Civista Bancshares, Inc. (NASDAQ:CIVB) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC trimmed its position in Civista Bancshares, Inc. (NASDAQ:CIVB) by 3.8% in the third quarter, HoldingsChannel.com reports. The firm owned 15,764 shares of the bank’s stock after selling 623 shares during the quarter. Private Advisor Group LLC’s holdings in Civista Bancshares were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CIVB. Vanguard Group Inc. lifted its holdings in shares of Civista Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 812,806 shares of the bank’s stock valued at $12,501,000 after buying an additional 8,797 shares during the period. Dimensional Fund Advisors LP grew its holdings in Civista Bancshares by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock worth $12,316,000 after acquiring an additional 6,234 shares during the period. Summit Financial Strategies Inc. raised its position in Civista Bancshares by 3.2% in the second quarter. Summit Financial Strategies Inc. now owns 148,858 shares of the bank’s stock worth $2,306,000 after acquiring an additional 4,559 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Civista Bancshares by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 4,284 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Civista Bancshares by 4.3% during the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock valued at $1,416,000 after purchasing an additional 3,800 shares in the last quarter. 52.10% of the stock is owned by institutional investors.

Civista Bancshares Trading Up 7.8 %

NASDAQ CIVB opened at $22.55 on Thursday. The firm’s 50 day moving average price is $17.96 and its two-hundred day moving average price is $16.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.01 and a current ratio of 1.01. Civista Bancshares, Inc. has a twelve month low of $13.60 and a twelve month high of $23.48. The stock has a market cap of $354.87 million, a price-to-earnings ratio of 11.22 and a beta of 0.78.

Civista Bancshares (NASDAQ:CIVB) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The business had revenue of $62.43 million for the quarter, compared to the consensus estimate of $37.60 million. Civista Bancshares had a return on equity of 8.46% and a net margin of 13.12%. During the same quarter in the previous year, the company posted $0.66 earnings per share. Equities analysts anticipate that Civista Bancshares, Inc. will post 1.85 EPS for the current year.

Civista Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.84%. The ex-dividend date is Tuesday, November 5th. Civista Bancshares’s payout ratio is 31.84%.

Analysts Set New Price Targets

Several research firms recently commented on CIVB. Hovde Group raised shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, October 30th. Stephens increased their price objective on Civista Bancshares from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on Civista Bancshares from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of Civista Bancshares in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Insider Activity

In related news, Director Julie A. Mattlin purchased 2,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $15.60 per share, for a total transaction of $31,200.00. Following the completion of the acquisition, the director now directly owns 12,442 shares in the company, valued at approximately $194,095.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.01% of the stock is currently owned by insiders.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.